Andrews Property Development Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03615981 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017

FOR

ANDREWS PROPERTY DEVELOPMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

D K Leventis

SECRETARY:

A Leventis

REGISTERED OFFICE:

Sandall House

230 High Street

Herne Bay

Kent

CT6 5AX

REGISTERED NUMBER:

03615981 (England and Wales)

ACCOUNTANTS:

Mumford & Co Limited

Sandall House

230 High Street

Herne Bay

Kent

CT6 5AX

FIXED ASSETS

Tangible assets

3

-

228,484

Investment property

4

362,000

-

362,000

228,484

CURRENT ASSETS

Debtors

5

361

610

Cash at bank

2,331

4,249

2,692

4,859

CREDITORS

Amounts falling due within one year

6

166,350

174,085

NET CURRENT LIABILITIES

(163,658

)

(169,226

)

TOTAL ASSETS LESS CURRENT LIABILITIES

198,342

59,258

PROVISIONS FOR LIABILITIES

18,839

-

NET ASSETS

179,503

59,258

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

7

191,424

57,908

Retained earnings

(11,923

)

1,348

SHAREHOLDERS' FUNDS

179,503

59,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 18 May 2018 and were signed by:

A Leventis - Director

1.	STATUTORY INFORMATION

Andrews Property Development Ltd is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

not provided

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 September 2016

228,484

Reclassification/transfer

(228,484

)

At 31 August 2017

-

NET BOOK VALUE

At 31 August 2017

-

At 31 August 2016

228,484

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Revaluations

133,516

Reclassification/transfer

228,484

At 31 August 2017

362,000

NET BOOK VALUE

At 31 August 2017

362,000

Fair value at 31 August 2017 is represented by:

£

Valuation in 2002

57,908

Valuation in 2018

133,516

Cost

170,576

362,000

If freehold land and buildings had not been revalued they would have been included at the following historical

cost:

2017

2016

£

£

Cost

170,576

170,576

Freehold land and buildings were valued on an open market basis on 3 May 2018 by reference to Zoopla. .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

150

Prepayments

361

460

361

610

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Corporation tax

1,356

1,644

Other creditors

1,019

-

Director's current account

163,268

171,734

Accrued expenses

707

707

166,350

174,085

7.

RESERVES

Revaluation

reserve

£

At 1 September 2016

57,908

Revaluation adjustments

133,516

At 31 August 2017

191,424

8.	RELATED PARTY DISCLOSURES

The director's loan account stood at £171.734 at the start of the year, drawings of £8,466 were made and at the

year end the director's account stood at £163,268. This sum is interest free and repayable on demand.

The director in office during the year, Mr D.K. Leventis died on 4th January 2018.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Andrews Property Development Ltd for the year ended 31 August 2017 which comprise the

Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Andrews Property Development Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Andrews Property Development Ltd and state those matters that we have agreed to state to the director of Andrews Property Development Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andrews Property Development Ltd and its director for our work or for this report.

It is your duty to ensure that Andrews Property Development Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Andrews Property Development Ltd. You consider that Andrews Property Development Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Andrews Property Development Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Mumford & Co Limited

Sandall House

230 High Street

Herne Bay

Kent

CT6 5AX

Date: .............................................